Pharmaceuticals Financial News

Zydus Lifesciences on Friday reported Rs 1,182 crore net profit in Q4FY24, a threefold year-on-year (YoY) jump led by growth in US, India, Europe and emerging market sales. The Ahmedabad-based drug maker reported net profit of Rs 297 crore in the corresponding period of previous year.

₹90 per share on the BSE SME on Friday. The investors expectations also had remained high for decent listing gains from the Aztec Fluids & Machinery IPO . The same was evident from the from subscription status and grey market premium.

Shares of Sanofi India Ltd.(up 2.69 per cent), Torrent Pharmaceuticals Ltd.(up 1.93 per cent), Natco Pharma Ltd.(up 1.63 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.51 per cent) and Lupin Ltd.(up 1.46 per cent) ended the day as top gainers in the pack.

The biopharmaceutical industry has been evolving rapidly. During the turbulent period spanning 2019 to 2021, amid the upheaval caused by the covid pandemic, it emerged as a focal point of global discourse. Biopharmaceuticals are drugs and therapies synthesized from living organisms, which includes vaccines, biologics, biosimilars and evolving therapies like cell and gene therapies.

Lupin Ltd.(up 2.1 per cent), Natco Pharma Ltd.(up 1.72 per cent), Torrent Pharmaceuticals Ltd.(up 1.15 per cent), Alkem Laboratories Ltd.(up 0.92 per cent) and Laurus Labs Ltd.(up 0.83 per cent) were among the top gainers.

Biocon with a target price of Rs 370. The current market price of Biocon Ltd. is Rs 311.55. Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 37404.69 Crore) operating in Pharmaceuticals sector.

Q4 FY2024 results today: A total of 94 companies are scheduled to post their Q4 FY2024 earnings on May 16, including some of the most notable names in the market. Among them, Biocon, Hindustan Aeronautics, Mahindra & Mahindra, GAIL (India), Crompton Greaves Consumer Electricals, Vodafone Idea, JK Paper, and Endurance Technologies are set to release their financial results for the fourth quarter that ended on March 31.

The drug maker reported net profit of Rs 294 crore in the corresponding period of previous year.

Mrs. Bectors Food Specialities Ltd.(up 5.24%), Future Consumer Ltd.(up 4.77%), Patanjali Foods Ltd.(up 3.28%), Dodla Dairy Ltd.(up 2.40%), Emami Ltd.(up 2.26%), Tasty Bite Eatables Ltd.(up 2.10%), Zydus Wellness Ltd.(up 1.84%), Dangee Dums Ltd.(up 1.83%), JHS Svendgaard Laboratories Ltd.(up 1.66%) and Vadilal Industries Ltd.(up 0.81%) stood among the top gainers.

₹193 crore. Also read: ChrysCapital invests $100 million in eyecare chain Centre for Sight The firm has had tremendous success in its pharmaceuticals portfolio, having booked profits on investments in firms such as Torrent Pharma, Curatio Healthcare, GVK Biosciences, Cadila Healthcare and IPCA Laboratories. Its pharma portfolio is overseen by Partner Sanjiv Kaul, a former Ranbaxy Laboratories executive.

Aarti Industries with a target price of Rs 800. The current market price of Aarti Industries is Rs 655. Aarti Industries, incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 24258.77 crore) operating in Pharmaceuticals sector.

Torrent Pharmaceuticals and Glenmark Pharmaceuticals were key leaders amongst listed companies, that saw their domestic sales grow 16.7-17.7% during the month of April' 2024 . The two were closely followed by Alkem Laboratories whose sales in value terms also grew 14.8% y-o-y.

Q4 Results Today: Bharti Airtel, Siemens, Colgate-Palmolive (India), BASF India, Apollo Tyres, and PVR Inox, among 97 companies expected to post their earnings on May 14 for the fourth quarter that ended on March 31, 2024. On May 13, the benchmark indices continued their upward trajectory.

Shriram Finance: US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India. The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7, 2025.

₹2,518 crore for FY24, up 61.8% on year, on the back of robust growth in its loan portfolio and a rise in net interest income (NII). The Mumbai-headquartered financial institution, which finances, facilitates and promotes India's international trade, said its total business for FY24 stood at ₹3.4 trillion, up 17.8% annually.

₹700 crore ($85 million) in brownfield expansion through FY25. This capital expenditure (capex), she revealed, will mostly be assigned towards the contract development and manufacturing organisation (CDMO) segment of the company. “The plan for the next year will be to uphold our continued focus on revenue growth, brownfield organic expansion, Ebitda and net debt to Ebitda ratio improvement.

Export financier Exim Bank recorded a 62 percent growth in net profit for the year ending March 2024 as it could control bad loans. The lender is planning to raise over Rs 60,000 crore in FY'2024-25 from the domestic market in addition to $3-3.5 billion from the overseas market.

Magadh Sugar & Energy Ltd.(up 1.15%) and Triveni Engineering & Industries Ltd.(up 0.66%) were among the top gainers.

Tata Motors: The company reported a 222% surge in net profit to ₹17,407.2 crore in Q4FY24, driven by strong performance across all auto businesses. The company's total revenue rose 14.3% to ₹1.2 lakh crore. The board recommended a final dividend of ₹6 per ordinary share and ₹6.20 per ‘A’ ordinary share for FY24.

drug regulator has formed an expert panel to evaluate several currently prescription drugs that can be sold over the counter (OTC) after various pharmaceutical companies lobbied the regulator to make their drugs an OTC product, people in the know told ET. The sub-committee, which includes various doctors from the country's top government hospitals, representatives from Indian Council of Medical Research (ICMR), drug controllers from various states, will develop a mechanism for the drugs to be sold OTC, considering globally prevalent regulations and practices. The sub-committee formed last week has been asked to submit the report within three months.

collaboration deals have been signed by various cricketers amid rising viewership numbers for the ongoing Indian Premier League (IPL) over the last two-three weeks, executives said. A similar number of pacts are in the process of being finalised, they said. Chennai Super Kings star player MS Dhoni has been signed by nutrition startup Explosive Whey, in which he'll also be investing, French carmaker Citroen and Emcure Pharmaceuticals. Appliances maker Philips has collaborated with Virat Kohli for a limited-edition, co-designed beard trimmer. Wearables brand boAt has signed Yashasvi Jaiswal. Shikhar Dhawan has been signed by eyewear start-up QUE as investor and ambassador. Dhoni said the partnership with supplements maker Explosive Whey was «a natural fit» for him. French car maker Citroen, a Stellantis Group brand, is learnt to have signed him for a two-year, ₹7-crore deal. The deal, according to executives, is aimed at improving brand awareness and market share since it's a relatively new entrant.